Comcast 3Q profit, sales top Street on upbeat subs
Posted at: 10/26/2012 7:35 AM
By: | WHEC.com
(AP) PHILADELPHIA - Cable giant Comcast Corp., the nation’s largest provider of TV and high-speed Internet services, more than doubled its net income in the third quarter, helped by fewer cancelations of video service than expected and by breaking even on the expensive-to-produce London Olympics.
Net income in the three months through September rose to $2.11 billion, or 78 cents per share, from $908 million, or 33 cents per share, a year earlier.
Excluding earnings from businesses in which it had a minority stake, adjusted earnings came to 46 cents per share, matching the expectation of analysts polled by FactSet.
Revenue grew 15 percent to $16.54 billion, blowing past the $16.07 billion expected by analysts.
(Copyright 2012 by The Associated Press. All Rights Reserved.)